The heat transfer fluids (HTF) market is experiencing huge growth, which is expected to continue in the future, majorly driven by the growing Asia-Pacific region and intense focus toward industrial expansions. Different market players have made significant investments in order to be prepared to serve the potential markets in the future. Europe is the major heat transfer fluids market, which accounted for nearly one third of the total global demand in 2013.

Oil & gas was the single-largest application of heat transfer fluids, with a market share of nearly 25.88% of the total demand in 2013. Silicone & aromatics are pushing the demand for heat transfer fluids at a notable pace. The demand for PAG & glycol-based heat transfer fluids is comparatively lesser but their growth is projected to increase in the future for their increasing applications.

This study aims to estimate the global market
of heat transfer fluids for 2013 and to project the expected demand of the same by 2019. This market research study provides a detailed qualitative and quantitative analysis of the global heat transfer fluids market. It provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the market. The market is further segmented and projected for major regions that are Asia-Pacific, North America, Europe, and RoW, which is further segmented for key countries in each region.

This report makes use of various secondary sources such as encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of the heat transfer fluids market. The primary sources, experts from related industries and suppliers, have been interviewed to obtain and verify critical information as well as to assess the future prospects of heat transfer fluids.

Competitive scenarios of top players in the heat transfer fluids market have been discussed in detail. We have also profiled leading players of this industry with their recent developments and other strategic industry activities. The Dow Chemical Company (U.S.), Honeywell international Inc. (U.S.), BASF SE (Germany), Chevron Corporation (U.S.), ConocoPhillips (U.S.), and ExxonMobil Corporation (U.S.) are some of the major players of heat transfer fluids.

Scope of the report:

This research report categorizes the global market for heat transfer fluids based on type, application, and region along with forecasting volumes, revenues, and analyzing trends in each of the submarkets.

On the basis of type: The heat transfer fluids market is segmented based on different fluids types such as mineral oil, silicone & aromatics, PAG & glycol-based fluids, and others. Each type is further described in detail in the report with volume and revenue forecasts for each type.

On the basis of application: The heat transfer fluids market is segmented on the basis of industry applications that are oil & gas, concentrating solar power, chemical industry, manufacturing processes, pharmaceuticals, bio-diesel production, and others. Each application is further described in detail in the report with volume and revenue forecasts for each application.

On the basis of region: A country level segmentation is done for heat transfer fluids for key regions that include Asia-Pacific, North America, Europe, and RoW, and further for key countries in each region that include U.S., Canada, Spain, Germany, Italy, U.K., China, India, Japan, and Saudi Arabia.
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“The global heat transfer fluids market is growing at a CAGR of 6.10%, and is estimated to reach 641,218.19 tons by 2019.”

FEATURED COMPANIES

The global heat transfer fluids market is growing at a CAGR of 6.10%, and is estimated to reach 641,218.19 tons by 2019.

Silicone and aromatics is one of the dominant heat transfer fluids witnessing a significant growth in the past few years, and this growth is estimated to continue in the coming years. Heat transfer fluids are mainly available in different types such as mineral oils, silicone & aromatics, PAG & glycol-based fluids, and others. They are widely consumed in applications such as oil & gas, concentrating solar power, chemical industry, manufacturing processes, pharmaceuticals, bio-diesel production, and others.

The demand for heat transfer fluids is majorly driven by factors such as their emerging applications in concentrating solar power industry and the growing trend of heat transfer fluids modification to make it exploitable for various other applications. Furthermore, technological innovations are expected to increase the market penetration of heat transfer fluids and make them suitable for numerous other applications. The effectiveness of heat transfer fluids in traditional end-user industries has always been a promising factor for its growth over a long run.

Europe is currently the largest consumer of heat transfer fluids, which consumed nearly one third of the total consumption in 2013 and is expected to grow at a CAGR of 4.93%. Spain and Germany are the leading consumers of heat transfer fluids, holding a major share in regional consumption in 2013. The heat transfer fluids market for Asia-Pacific is comparatively low, but is estimated to show one of the highest growth rates from 2014 to 2019.

The concentrating solar power industry with a CAGR of 6.77% is the fastest-growing end industry consumer of heat transfer fluids whereas the leading consumer of heat transfer fluids remains the oil & gas and chemical industries.

The Dow Chemical Company (U.S.), Honeywell international Inc. (U.S.), BASF SE (Germany), Chevron Corporation (U.S.), ConocoPhillips (U.S.), and ExxonMobil Corporation (U.S.) are some of the major players of the heat transfer fluids market.

This report covers the heat transfer fluids market by key regions and major countries in each region. A holistic approach has been followed in order to segment the entire market into definite forms, applications, and end-user industries along with its projection by 2019.

Note: Product cover images may vary from those shown

“The global heat transfer fluids market is growing at a CAGR of 6.10%, and is estimated to reach 641,218.19 tons by 2019.”

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